Gold long term trend
Some analysis based on previous cycle.
Time analysis: GFC started mid 2007, took us about 8 months for gold to peak, then 9 months of correction before starting new bull cycle to $1920. This time it took us about 6 months to reach new ATH. If the history repeats, I expect our bottom to be around Mar-Apr 2021, after Biden started his US presidency.
Price: Last time we corrected more than 30% from ATH. This time if we do the same, that would give us about $1450. But if we only go back to touch the high of price before crisis started, that would be around $1650-$1685. I'm leaning towards the 2nd scenario. After that, we can resume our parabolic move with FED Brrrr machine. Can't wait for that move :)
Time analysis: GFC started mid 2007, took us about 8 months for gold to peak, then 9 months of correction before starting new bull cycle to $1920. This time it took us about 6 months to reach new ATH. If the history repeats, I expect our bottom to be around Mar-Apr 2021, after Biden started his US presidency.
Price: Last time we corrected more than 30% from ATH. This time if we do the same, that would give us about $1450. But if we only go back to touch the high of price before crisis started, that would be around $1650-$1685. I'm leaning towards the 2nd scenario. After that, we can resume our parabolic move with FED Brrrr machine. Can't wait for that move :)
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.